Republic of Paraguay
Capital: Asuncion HDI: 0.679 (112th)
Language: Spanish, Guarani
GDP (PPP): $63.356 billion
Paraguay, officially the Republic of Paraguay, is a landlocked country in central South America, bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. Paraguay lies on both banks of the Paraguay River, which runs through the center of the country from north to south. Due to its central location in South America, it is sometimes referred to as Corazón de Sudamérica (“Heart of South America”).
Paraguay’s population was estimated to be at around 6.7 million, most of whom are concentrated in the southeast region of the country. The capital and largest city is Asunción, of which the metropolitan area is home to nearly a third of Paraguay’s population. In contrast to most Latin American nations, Paraguay’s indigenous language and culture, Guaraní, remains highly influential. In each census, residents predominantly identify as mestizo, reflecting years of intermarriage among the different ethnic groups. Guaraní is recognized as an official language alongside Spanish, and both languages are widely spoken in the country.
Paraguay Economy – overview
Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export of imported consumer goods to neighboring countries, as well as the activities of thousands of microenterprises and urban street vendors. A large percentage of the population, especially in rural areas, derives its living from agricultural activity, often on a subsistence basis. Because of the importance of the informal sector, accurate economic measures are difficult to obtain.
Paraguay Overview – World Bank
The Paraguayan economy is small and open, with an average growth rate of 5% over the past decade, despite the volatility of that period.
Industry Trends & Business Climate
Paraguay – US Department of State
Paraguay has a small but rapidly growing open economy with a strong macroeconomic position and the potential for continued growth over the next decade. Major drivers of economic growth in Paraguay are the agriculture, retail, and construction sectors. The Government of Paraguay encourages private foreign investment. Paraguayan law grants investors tax breaks, permits full repatriation of capital and profits, supports assembly plant operations, and guarantees national treatment for foreign investors.
Paraguay Economy: Population, GDP, Inflation, Business
This site provides an index of key business statistics
Establishing a Presence
Business Types – Starting a Business in Paraguay – Doing Business
Comprehensive report on all aspects of doing business in Paraguay from the World bank
Business Registration Requirements – Starting a Business in Paraguay
This site provides a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Paraguay.
Paraguay – Corporate tax administration
For income from commercial, industrial, and service activities, the general income tax rate of 10% applies.
Taxes on personal income – Worldwide Tax Summaries
The general personal income tax (PIT) rate is 10% for individuals with residence in Paraguay who obtain an annual income equal to or higher than 120 monthly minimum salaries. The salary to be used is that which is in force on 1 January of every year.
Paraguay Sales Tax Rate | VAT
The Sales Tax Rate in Paraguay stands at 10 percent.
Paraguay Corporate Tax Rate
The Corporate Tax Rate in Paraguay stands at 10 percent. Corporate Tax Rate in Paraguay averaged 18.95 percent from 1997 until 2015, reaching an all time high of 30 percent in 1998 and a record low of 10 percent in 2006. Corporate Tax Rate in Paraguay is reported by the Dirección General de Administración y Finanzas.
Paraguay – US Department of State
See “Entry, Exit & Visa Requirements
Visa policy of Paraguay
A foreign national wishing to enter Paraguay must obtain a visa unless he or she is a citizen of one of the eligible visa exempt countries.
Transport in Paraguay
Transportation in Paraguay is very different to what most people are used to back at home. In some regions it is adequate and passable, whereas in other it could be called incredibly poor.
Telecom – Latin America – Telecoms, Mobile and Broadband
The state-owned incumbent, Corporación Paraguaya de Comunicaciones (Copaco), retains a monopoly on all fixed-line voice services, including local telephony, international long distance telephony, and VoIP. In the mobile market, however, there has been competition since 1998. The internet market is also open to competition, and there are over a dozen ISPs offering services. Copaco lost its monopoly over the international backbone for internet connectivity in early 2009. – See more at: http://www.budde.com.au/Research/Paraguay-Telecoms-Mobile-and-Broadband-Market-Insights-and-Statistics.html?r=51#sthash.N2xuHJPT.dpuf
Best Paraguay Transportation on VirtualTourist
A summary of all forms of public transportation in Paraguay
Telecommunications in Paraguay
Telecommunications in Paraguay are meager. Paraguay has the lowest fixed-line telephone density in South America, with 5.6 lines per 100 residents, compared with 8.7 per 100 in Bolivia, 21.9 in Brazil, and 24.9 in Argentina.
Labor Market Regulation in Paraguay
This site provides a detailed summary of some of the labor regulations that would apply to local entrepreneurs wishing to hire workers, organize working schedules, or make workers redundant for economic reasons in Paraguay.
Paraguay Facts, information, pictures
See Section on “Labor”
Climate – Paraguay Weather, Climate and Geography
Subtropical with rapid changes in temperature throughout the year. Summer (December to March) can be very hot. Winter (June to September) is mild with few cold days. Rainfall is heaviest from December to March.
Education in Paraguay – Wikipedia
A considerable part of the annual budget is dedicated to improve the education system in Paraguay. The development of several public secondary schools and universities in the country has enhanced the educational system in Paraguay to a large extent.
Education – Paraguay Education System – Classbase
Education has not always received the recognition it deserves in Paraguay. These days this is changing as political stability returns, although the poorer children in more rural areas still are not reached by the same opportunities, especially in terms of hours per day at school
Holidays and observances in Paraguay
National and seasonal holidays in Paraguay
safety – Paraguay – US Department of State
Go to “Safety and Security” on this US Department of State site
Safety and security
Safe travel advice from the UK government
Climate in Paraguay
The environment ranges from the arid desolation of the north, to sticky subtropical rain forests and wetland ecosystems. Because Paraguay is in the southern hemisphere, the country’s winter aligns with the North American summer and vice versa.
Holidays 2015 and 2016
Public and religious holidays
Demographics – Paraguay Demographics Profile
Demographic information includes population, quality of life, health, sports, technology, energy and the environment
Demographics – Business Guide Paraguay – World Services Group
A detailed demographic profile of Paraguay
Cost of Living in Paraguay
Cost of living information includes price indices for rent, food, utilities, transportation, restaurants, clothing and more
Cost of Living in Paraguay
Aof living costs in paraguay versus other countries in South America
Business Etiquette – Do’s and Don’ts when Doing Business in Paraguay
The dos and don’ts of business etiquette in Paraguay
Business Etiquette – The Proper Etiquette In Paraguay
Communication, dining and dress etiquette
Trade Agreements – Paraguay and the WTO
This site provides key information on Paraguay’s participation in the WTO. Paraguay has been a WTO member since 1 January 1995 and a member of GATT since 6 January 1994.
Import/Export Regulations – Paraguay – (OTEXA) Market Reports/Tariffs
Import tariffs, documentation procedures and restrictions
Import/Export Regulations – Paraguayan Customs: Regulations, Export-Import
Paraguay Customs regulations and procedures for importing and exporting goods at Paraguayan border.
Paraguay Free trade agreements (FTA)
Information on trade agreements in force by country
Housing and Rentals
Paraguay Hotels, Hostels & Accommodation
Hotel and other options in cities in Paraguay
Vacation rentals: apartments, rooms & Beach Houses
Listings of hotels, apartments, rooms and beach houses
Trade Agreements – Paraguay – Lonely Planet
Little-visited, little-known Paraguay is a country much misunderstood. Despite its location at the heart of the continent, it is all too often passed over by travelers who wrongly assume that a lack of ‘mega-attractions’ means there’s nothing to see. But it’s ideal for those keen to get off the gringo trail for a truly authentic South American experience.
Paraguay Travel Guide and Travel Information
Expert Paraguay travel guide including detailed information about everything you need to know about Paraguay.